In the dynamic world of shipping, the annual General Rate Increases (GRIs) announced by major carriers like FedEx and UPS can have a profound impact on businesses. While the carriers tout a 5.9% increase for 2024, a closer look reveals a more complex reality.
Unmasking the Numbers
Contrary to the advertised figures, Reveel’s recent analysis delves into the true implications for businesses. The average FedEx customer is expected to see an 8.17% hike, while UPS customers might face a 7.72% increase in shipping costs in the coming year.
Beyond the Surface
This revelation isn’t new. Previous analyses by Reveel have consistently exposed a significant gap between the published rate card increases and the actual cost burdens shouldered by businesses.
The Role of Data Science
Josh Dunham, CEO of Reveel, emphasizes the transformative power of advanced data science. This technology unravels hidden price increases, bringing transparency to the forefront and enabling businesses to make informed, proactive decisions.
Shippers’ Strategic Advantage
Despite the challenges posed by the 2024 GRIs, there’s a silver lining for shippers. Carriers are now more open to negotiation, providing an opportunity for businesses to secure favorable rates, terms, and conditions.
Take Action: Download the Full Guide
For a detailed exploration of the analysis and actionable insights, we invite you to download our comprehensive guide. Equip yourself with the knowledge needed to navigate the 2024 GRIs effectively and enhance your negotiation strategy.
Download our 2024 GRI Rate Guide
The Reveel App uses AI and machine learning to provide an unparalleled look into what’s impacting your bottom line. Through invoice audits, peer benchmarking, and rate modeling/simulations, you can see the health of your operation and assess pricing changes from parcel carriers like FedEx and UPS. Sign up for a free Reveel account today to see how you can leverage automation to synthesize your data, ship more for less, and reduce the time needed to identify issues and action items.
